In her book entitled "New Coaching Manifesto", The Whole Truth About Coaching Business -- Why only 9% of coaches succeed while all the rest fail, and what you must do to prosper in coaching, Melana Leshinsky talks about developing your coaching business instead of a coaching practice. The difference between a business and a practice is that the income attached to practice is directly proportional to your involvement.
When you stop working due to retirement, vacation, being involved in an accident or just getting sick, your income and the value of your business almost instantaneously drops down to near zero because you are essentially it’s only asset.
On the other hand, building a coaching business not only requires you to make your services available to people, it also requires you to diversify your activities and think outside the box which in turn will have the side benefit of also keeping life as a coach interesting. For example, could you develop a residual income by recording a teleclass/workshop you offer? Just the participants alone might be interested in such a product, not to mention those who could not make it to the course or who could not afford the course.
A free eBook version of Melana’s book can be downloaded from her web site at www.coachingmillions.com. Even if you are not interested in reading the 35 page book, at the very least you should take a look at her web site and discover the wealth of information and ideas for building a sustainable coaching business.
With warmest regards,
Life Coach Michael Milette
Take what makes sense to you in life and leave the rest. --- Michael Milette